Practical or Bookish knowledge which is great?

I am here to not tell you that same repeated answer you heard. let me tell you one story. 

There is a young boy who has much interest in technology and has practical knowledge but not bookish knowledge, since he is poor at bookish knowledge he used to fail in exams. some of his friends who has good ranks used to laugh at him, days passed, after some days the young boy has dropped out from his engineering education and started his own small business. since he has practical knowledge in technology he implemented new techniques and got successful in just 2 years. on the other hand his friends who has laughed at him are in the final year, company's are conducting campus recruitment drives to hire. but the friends who laughed at him not selected in any one of the company. finally they they remembered his friend who has poor marks and called for asking a job opportunity. he invited them to his office and allotted small and easy projects, he said that who completes project with in 60 min he will offer them a job and he left office.

After 60 min he came back and with out even seeing or asking project status he told them to leave his office. his friends asked, with out seeing or asking status of project why are you saying us to leave.

Then he replied that, those who win in a failure system they are equal to failure persons but not successful person. then they understood that his friend already know that they could not complete project because they are poor at practical knowledge. they understood that education means not reading given content in books.  learn every thing in practical.